May San Francisco Real Estate Market Update for April 2007
The current monthly report may be seen at SFResidence.com.The number of Single Family Homes sold for April did not change from March in San Francisco Real Estate. The average listing and selling prices were both lower than the previous month and lower than a year ago. Even so, the average selling price was over 106% of the average listing price. The average days on the market dropped to 36, possibly due to the shrinking inventory.
The number of Condominiums sold in April increased slightly from March in the San Francisco Real Estate Market. The average selling price was almost 102% of the average listing price. The average listing and selling price was higher than last month and higher than a year ago. The average days on the market dropped to 48.
The number of homes sold in the Overall Sales category for April in San Francisco Real Estate did not change from March but was lower than a year ago. The average selling price was over 103% of the average listing price, and slightly lower compared to last month but higher than a year ago. The average days on the market dropped to 47.
Indications are that we are poised for a great spring market. Low inventory and high demand create the environment for multiple and preemptive offers where properties are sold for well over the asking price. This could be a great time to sell!
* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.
See the April 2007 statistics here.
- Janis Stone
posted by SFResidence.com @ 9:44 AM
0 Comments:
Post a Comment
<< Home